Wheat import prices in Georgia have increased by 82.2% in one year, and by 30.1% since the beginning of the year. More specifically, if the price of wheat imported into the country in July 2021 was an average of $225 per ton, in July this year the price increased to $410. In January 2022, the average price of one ton of wheat imported into the country was $313-$315.
According to the data published by the National Statistics Office of Georgia (Geostat), in January 2021, a total of 11,762 tons of wheat worth of $3,384 million were imported to the country; 5,469 tons of wheat worth of $2,243 million - in July 2022; In July 2021, the country purchased 40,861 tons of wheat for $9.194 million.
It should be noted that 80-90% of wheat is imported to Georgia from Russia. Due to the increase in the export price of wheat in Russia and the price of the product itself, the import of wheat became more expensive in Georgia. From January to July 2022, the price of Russian wheat increased by an average of $95 per ton - by 30.1%.
The export prices of wheat in Russia have been falling for the last few days, the product is becoming cheaper in the local market as well, whether this affects the Georgian imports or not, it will be seen in the future.
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